When you’re seeking a mortgage in South Cave, it’s crucial to furnish a deposit. The majority of lenders necessitate a minimum deposit of 5% of the property’s value. Nevertheless, this percentage may be greater, ranging from 10% to 15%, depending on your prior circumstances such as past credit problems.
Our mortgage process consists of various stages. Initially, one of our mortgage advisors in South Cave will conduct a Fact Find to comprehend your mortgage necessities when you reach out to us.
After that, your assigned mortgage advisor in South Cave will scout for appropriate mortgage options that match your financial and personal situation. If you approve of the suggested mortgage plan, we’ll initiate the preparation of your mortgage application.
Following that, we’ll undertake a credit check to acquire an agreement in principle on your behalf. To strengthen your mortgage application, you’ll need to furnish us with some supportive documents.
Finally, we’ll present your mortgage application and await a formal mortgage offer to be extended.
The expenses linked with remortgage are the same as those you encountered during your initial mortgage application. If you require an exhaustive breakdown of these expenses, get in touch with our remortgage advisors based in South Cave.
Our professionals will endeavour to cut down on these expenditures and concurrently evaluate your existing mortgage product against newer alternatives to see if you qualify for a more advantageous interest rate.
Getting a mortgage in South Cave despite past credit issues may pose difficulties, but it’s not an unattainable feat. Your credit history’s severity and duration will impact the lender’s decision when scrutinising your credit report to evaluate the lending risk.
If you require customized mortgage guidance in South Cave, feel free to contact our team of mortgage specialists.